The SFC has censured and fined Bright Smart Securities (Hong Kong) Limited
HKD2.8 million for failing to implement adequate and effective internal controls
to monitor and detect client wash trading. The firm said it accepts the penalty,
completed remediation in September 2025, and that its internal-control
technology now meets regulatory requirements. Bright Smart added the matter did
not involve cybersecurity issues and did not affect client trading or funds.